HomeMy WebLinkAbout5947i
ORDINANCE NO. 5947
AN ORD31TANCE SUBMITTING TO THE VOTERS OF THE
CITY OF LITTLE 'ROCK, ARKANSAS, THE gUESTION
WHETHER IT WITZ ISSUE BONDS TO THE =ENT OF
$ FOR THE PURPOSE OF THE IM-
FR0VM0NT OF THE CITY AIRPO
BE IT ORDAINED BY�THE CITY COUNCIL
OF THE CITY OF LITTLE ROCK, ARKANSAS:
Section 1. An election is hereby call ®d to be held
at the usual polling places in the City of Little Rock, Arkansas,
on the Ord day of kt,4,6t , 1940, for the purpose of
determining whether the City of Little Rock shall issue 0300,000.00
in negotiable bonds, bearing interest at a rate not to exceed five
per cent per annum, but convertible to a lower rate of interest
on such terms that the City shall pay and receive substantially
the same amount of money, said bonds to be payable as follows:
05,000.00
in
each of the years
1944.to 1947, incl.
6,000.00
in
each of the years
1948 to 1950, incl.
79000.00
in
each of the years
1951 to 1953, incl.
89000.00
in
each of the years
1954 to 1955, incl.
99000.00
in
each of the years
1956 to 1958, incl.
10, 000.00
in
the'.,Yle 1 11959.
12,000.00
in
the year 1960.
13,000.00
in
the year 1961.
14,000.00
in
the year 1962.
15,000.00
in
the year 1963.
16,000.00
in
the year 1964.
17,000.00
in
the year 1965.
181000.00
in
the year 1966.
19,000:00
in
the year 1967.
20,000.00
in
the year 1968.
219000.00
in
the year 1969.
239000.00
in
the year 1970.
Said bonds to be issued for the purpose of the improvement of
the City Airport by purchasing additional land thereifor,._i�ither
within or without the corporate limits, and constru ;fi - and.e-
W
quipping buildings for administration, passengery
shops, electric lines, fences, run -ways, taxi- strips, drive- ways,,.
and doing other things incidental and necessary to a modern `N''
port; and to be dated as near the date of sale thereof Ali, r
cable, but-not later than March 1, 1941. Said bonds may ybe ode
callable on any interest paying date after
Section 2. Said election sh
the votes thereat canvassed and the result
the law and in the manner now provided for
and notice of said election shall be given
January 1, 1944.
all be conducted and
thereof declared under
municipal elections,
by the Mayor by adver-
.g 1
r
4'r V*
A.
tisement weekly for at least four (4) times in some newspaper pub-
lished in the City of Little Rock, and having a bona fide circula-
tion therein, the last publication to be not less than ten days
prior to the date of said election. The ballots for said election
shall be marked:
"FOR Bond Issue for $000.00 fpr the purpose
of the improvement o e City Airport by purchas-
ing additional land therefor, either within or
without the corporate limits, and constructing and
equipping buildings for administration, passenger
terminal, hangars, shops, electric lines, fences,
run -ways, taxi- strips, drive -ways, and doing other
things incidental and necessary to a modern airport."
V.
"AGAINST Bond Issue for $ 300,000,00 for the purpose
of the improvement of the City Airport by purchas-
ing additional land therefor, either within or
without the corporate limits, and constructing and
equipping buildings for administration, passenger
terminal, hangars, shops, electric lines, fences,
run -ways, taxi- strips, drive -ways, and doing other
things incidental and necessary to a modern airport."
At said election only qualified voters of the City of Little Rock
will have the right to vote. The result of said election shall
be proclaimed by the Mayor by publication in some newspaper pub-
lished in said City of Little Rock, and his proclamation shall ad-
vise the citizens and property ovmers of said City that the result
as proclaimed will be conclusive unless attacked in the Courts
within thirty (30) days after the date of such proclamation.
Section 3. It is ascertained and hereby declared that
the present City Airport is too small for the safe landing of some
of the modern airplanes, and particularly of airplanes now operated
by the National Guard and the United States Army in the military
defense of the State and Nation; that under the program for the
National defense it is imperative for the safety of the public that
the Airport be promptly made suitable for such airplanes; and that
by reason of the present economic conditions, many citizens of the
City are out of work, and the improvements herein provided would
furnish work for a large number of men and thereby add to the
peach, health and happiness of the City. It is, therefore, declared
that an emergency exists, that this ordinance is necessary for the
immediate preservation of the public peace, health and safety, and
0". 74
#3*
that this ordinance shall take effect and be in force from and af-
ter its passage.
PASSED: July 22, 1940.
APPROVE
ATTEST.
CITY